Sei Investments Co. Lowers Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Sei Investments Co. trimmed its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 22.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,521 shares of the company’s stock after selling 46,612 shares during the period. Sei Investments Co.’s holdings in AvePoint were worth $2,634,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in shares of AvePoint during the 3rd quarter worth about $48,226,000. Geode Capital Management LLC raised its holdings in AvePoint by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock worth $33,309,000 after purchasing an additional 133,156 shares during the period. JPMorgan Chase & Co. boosted its position in AvePoint by 13.6% during the third quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock worth $18,086,000 after purchasing an additional 184,361 shares in the last quarter. Franklin Resources Inc. boosted its position in AvePoint by 2.3% during the third quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock worth $14,815,000 after purchasing an additional 27,191 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in AvePoint in the fourth quarter valued at approximately $18,067,000. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Brian Michael Brown sold 35,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.40, for a total transaction of $539,000.00. Following the sale, the insider now owns 1,347,145 shares of the company’s stock, valued at approximately $20,746,033. This trade represents a 2.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 26.19% of the company’s stock.

AvePoint Price Performance

Shares of AvePoint stock opened at $13.33 on Friday. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -266.55 and a beta of 1.11. The business has a 50-day moving average of $16.57 and a 200 day moving average of $15.70. AvePoint, Inc. has a 12 month low of $7.62 and a 12 month high of $19.90.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AVPT shares. William Blair reissued an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Citigroup cut their target price on shares of AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, AvePoint currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.75.

AvePoint Company Profile

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.